Member Info for Chris70

Regarding the share starting price, I received the following information from Asset Match:

The Synairgen have appointed Asset Match to provide a secondary trading facility in the Company’s Ordinary Shares. The dates of the first auction have been set for 2nd September to 30th September 2025. Shares were admitted to trading at 0.95 pence per share (the last price on AIM).

yes, definitely ****.

i was confident that the minimum fundraising would be achieved.

from now on, 12-18 months until the company can be sold after a successful p2.

Thank you Gampy

just a small clarification. Only shareholders who were in on 20 December can buy new shares at 2p. As I wrote, I believe this will be sufficient for the funding to be successful.

On Friday afternoon I received the documents with the offer in my account.

I will definitely accept the offer. The reasons are simple for me:

1. if the funding is not successful, then the money will be repaid and we will remain with the same number of shares as before. However, I think it is very realistic that the funding will be successful. It should be possible to find just under 300 people to invest £10,000 each. For any shareholder who currently has a high average price, it is the only way to recoup the money invested.

2. the massive dilution can be mitigated by accepting the offer.

3. the average price is then depressed even further and I will be able to reach my break-even point even faster. I think it is unrealistic that the price will fall below 2 pence after the issue. With a funded P2 trial, the price should rise between 5p and 10p after the announcement or relatively quickly within four weeks. There will also be a positive upward movement after the announcement of the start of the trial.

This is not a recommendation for acceptance. Everyone must decide on the basis of their own situation whether a further investment makes sense for them.

Good luck to all.

Sorry Fruits,

Meant kris.lam@icrhealthcare.com was not working either.

Hi Fruits,

I have tried the email address "synairgen@icrhealthcare.com" and it does not work either. I am waiting for a reply from Synairgen.

Thank you Fruits.

I used this email address but it did not work. Maybe because I am writing from outside the UK. No problem, I will wait for the feedback directly from Synairgen.

I have read all the pages but have not seen the application form. I thought you had to fill it in with all the details and send it to Cavendish? Has anyone seen the form? I know there is an instruction that you can apply for more shares if you wish and if other shares are not taken.

Today I sent a message to ICR Healthcare but received an error message. So I decided to ask Synairgen for clarification. I hope to hear back by Friday. Will let you know.

I wish you all a Merry Christmas and all the best for 2025. I hope our baby SNG 001 will be successful.

Friday's news has upset us all, there's no doubt about that.

Nevertheless, I would like to try to categorise the situation in a reasonably objective way.

The past and the burning of money is shameful. Unfortunately, there is nothing we can do about it.

But what can the offer and issue of shares mean for us if we stay? I have tried to work this out mathematically. The calculation does not claim to be one hundred per cent correct; management shares are certainly not allocated correctly. But this is irrelevant.

If the private holdings of almost 300 million shares are sold, TFG would only have a stake of around 62% and the company would not be delisted. I am sure that the shares will find buyers. There is an opportunity here to buy shares for 2 pence for a company that will then start a funded P2 trial. This in 2025, as announced.

There is much speculation as to what the value of the company could be if the result is positive. The share was valued at more than £2.00 in both July 2020 and December 2021, resulting in an enterprise value of over £400 million. This with a trial started, not even a successful one. Such values should realistically be achievable again.

The second scenario is that the 300 million shares are not sold and TFG then takes over the remainder and will hold well over 75%. The company will then be delisted from the stock exchange. The shares are not freely tradable, but the value is not yet lost. As the company has always stated, it needs a successful P2 trial in order to get Big Pharma on board afterwards, but realistically it is more likely to be sold. RM's message is also contained in Friday's announcement:

‘If we can demonstrate a significant reduction in mortality it will make SNG001 a valuable asset, attractive to pharma company partners.’

Therefore, the company would most likely be sold and all shareholders would benefit. We are of course in the hands of TFG, but I think we have been for a very long time. Now they are just more invested.

I will certainly continue to buy shares within my means. Depending on when the trial starts and the results are available, it could take around 9 - 18 months to sell the shares. Even in the short term, there could be a jump in the share price once the other shares have been implemented. These are my thoughts on the matter.

Comments?

To be honest, today was the last day of the expected timeframe, given the two-week notice period. Tomorrow or Monday would still be acceptable. With the share price unchanged, nothing can be expected in due course. Very disappointing. I still hope to get an EGM before Christmas.

3-5 weeks jonnyboy. Three weeks are already gone. As they need to invite two weeks before the meeting, we definitely will get an invitation within the next three weeks. As long, as they keep what they promised, but RM was very positive.